<ARTICLE> 5
<MULTIPLIER> 1
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1998
<CASH>                                       4,043,523
<SECURITIES>                               117,790,254
<RECEIVABLES>                                7,833,252
<ALLOWANCES>                                 (309,746)
<INVENTORY>                                          0
<CURRENT-ASSETS>                           138,267,958
<PP&E>                                      17,454,680
<DEPRECIATION>                               4,526,215
<TOTAL-ASSETS>                             163,642,687
<CURRENT-LIABILITIES>                       77,905,667
<BONDS>                                     45,276,860
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                     3,284,737
<OTHER-SE>                                  37,175,423
<TOTAL-LIABILITY-AND-EQUITY>               163,642,687
<SALES>                                      5,853,042
<TOTAL-REVENUES>                             6,963,358
<CGS>                                        3,686,971
<TOTAL-COSTS>                                3,686,971
<OTHER-EXPENSES>                             1,285,974
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                           1,204,849
<INCOME-PRETAX>                                785,564
<INCOME-TAX>                                   165,310
<INCOME-CONTINUING>                            620,254
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   620,254
<EPS-PRIMARY>                                      .19<F1>
<EPS-DILUTED>                                      .19<F2>
<FN>
<F1>The company has restated earnings per share to comply with the provisions of
SFAS No. 128.  Basic earnings per share for the quarter ended June 30, 1997 was
restated to $.39.
<F2>Diluted earnings per share for the quarter ended June 30, 1997 was restated 
to $.34.
</FN>